https://starsunfolded.com/akash-ambani/Xolopak India Limited, a prominent player in sustainable disposable packaging, has secured pre-IPO investments from high-profile investors, including Bollywood celebrities Aamir Khan, Ranbir Kapoor, Karan Johar, and Russell Mehta, owner of Rosy Blue India and Akash Ambani’s father-in-law. The Pune-based company is India’s first manufacturer of organic disposable cutlery, ice cream sticks, and spoon products, catering primarily to the B2B segment.
The pre-IPO round also saw participation from investors like Devanathan Govindarajan of Riverstone Capital, Ravi Nathan Iyer, Jyoti Ketan Vakharia, Jayaraman Vishwanathan, Minerva Ventures Fund, Nexta Enterprises LLP, NVS Corporate Consultancy Services, Opus Software Solutions, Sarod Reality, Feroz Farms and Holdings, and Viney Equity Market LLP. Xolopak India recently filed its Draft Red Herring Prospectus (DRHP) with NSE Emerge, featuring a fresh issue of up to 52,86,000 equity shares with a face value of Rs 10 each. Beeline Capital Advisors Private Limited is the lead manager, and Bigshare Services Private Limited is the registrar for the offer.
Xolopak India, promoted by Shashank Mishra and Banani Chatterjee, who bring over 17 years of experience in sustainable packaging, operates a production facility in Bhopal, Madhya Pradesh. The company produces and supplies a range of wooden cutlery, including spoons, forks, knives, sporks, coffee stirrers, chopsticks, and kulfi sticks. Under the leadership of Mishra and Chatterjee, who manage day-to-day operations including sales, purchasing, and finance, Xolopak India has reported significant growth, with revenues nearly tripling to Rs 31.47 crore in FY 2023-24, compared to Rs 11.87 crore in the previous fiscal year, and profit rising to Rs 6.36 crore from Rs 3.48 crore.